WINNIPEG, June 14 /CNW/ - CanWest Global Communications Corp. (CanWest)
today announced the completion of the sale by its subsidiary, CanWest
MediaWorks Ireland Holdings (CMIH), of its approximately 70% interest in
CanWest MediaWorks (NZ) Limited (MWL) to HT Media Limited, a wholly owned
subsidiary of certain funds managed or advised by Ironbridge Capital Pty
Limited, an Australian private equity firm.
In consideration for its MWL shares, CMIH received aggregate cash
proceeds of approximately NZ$386 million (approximately C$309 million at
current foreign currency exchange rates), inclusive of a special dividend in
the approximate aggregate amount of NZ$16 million (approximately C$12.6
million) which was paid on June 8, 2007.
About CanWest Global Communications Corp.
CanWest Global Communications Corp. (www.canwestglobal.com), (TSX: CGS
and CGS.A) an international media company, is Canada's largest media company.
In addition to owning the Global Television Network, CanWest also owns,
operates and/or holds substantial interests in Canada's largest publisher of
daily newspapers, and conventional television, out-of-home advertising,
specialty cable channels, web sites and radio stations and networks in Canada,
New Zealand, Australia, Turkey, Singapore, the United Kingdom and the United
For further information:
For further information: Deb Hutton, SVP Corporate Communications,
CanWest Global Communications Corp., (416) 383-2442, email@example.com